Startup Studio Behind Hims – Just Raised $150M at a half a billion dollar valuation
Alex Konrad Forbes Staff – Venture Capital https://www.forbes.com/sites/alexkonrad/2018/10/10/atomic-startup-studio-new-fund/amp/When direct-to-consumer men’s health startup Hims launched in November 2017, it seemed to come out of nowhere.
Find out more by going to their website PS for more info about Hims
Him’s Offering is easy-access prescriptions for men’s issues like hair loss and erectile dysfunction through a quick online doctor consultation,
Hims had sleek branding and eye-popping numbers for a debutant: $1 million in first-week sales and $7 million in funding right out of the gate from blue-chip investors including Kirsten Green and Josh Kushner.
Less than a year later, Hims has raised another $90 million at a reported half-billion-dollar valuation, with tens of millions in sales.
Its torrid pace has made CEO Andrew Dudum look brilliant—or at least very, very lucky.
Hims was the result of months of planning and testing at a startup studio called Atomic, founded by entrepreneurs Jack Abraham and Chester Ng.
Atomic’s team of founders, marketers and operations experts poured months of work into Hims before it burst onto the public scene.
And for all its rapid growth, Hims still operates out of Atomic’s office and shares back-office services with its other companies.
In less than five years, Atomic has launched 10 companies including Hims out of a $20 million first fund, enjoying one exit (TalkIQ) and returning its cash to investors like Marc Andreessen and Peter Thiel in less than five years—good for an internal rate of return of more than 70% so far.
Atomic is a great model for others to emulate.
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